Bajaj Electricals Limited announces permanent closure of Parwanoo Unit

The Board of Directors of Bajaj Electricals Limited, at its meeting held on August 12, 2022, has considered and approved the proposal for permanent closure of operations of the Company's Parwanoo Unit.

The Company's Parwanoo Unit accounted for Nil revenue for the year ended March 31, 2022, whereas it has accounted for Rs.0.29 crore expenses/loss to the Company during the same period.

Considering the unsatisfactory performance of the Unit with continued operational losses in spite of attempts to turn it around, making it unviable to continue running the Unit.

Shares of Bajaj Electricals Limited was last trading in BSE at Rs. 1146.05 as compared to the previous close of Rs. 1155.75. The total number of shares traded during the day was 18366 in over 2290 trades.

The stock hit an intraday high of Rs. 1184.50 and intraday low of 1133.30. The net turnover during the day was Rs. 21371654.00.

Source : Equity Bulls

Keywords

BajajElectricals INE193E01025 PermanentClosure ParwanooUnit